Warburg Pincus exits Indian publishing conglomerate
Warburg Pincus has reportedly sold its remaining 3.6% stake in Indian media company DB Corp. - the owner of India’s second-largest Hindi daily Dainik Bhaskar - for INR1.57billion ($34.6million) on the National Stock Exchange. Shares in the company reportedly sold at INR237.5 apiece.
The US private equity firm has acquired a 7.14% stake in the media company in 2006 and partially exited the stake in 2009. The firm was said to make about 1.8x return on its original investment, according...
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